Athens News Agency: News in English, 00-07-21

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] National Bank of Greece-results

[01] National Bank of Greece-results

National Bank of Greece on Thursday said that its pre-tax profits increased 28 percent in the first half of 2000 to 142 billion drachmas from 111 billion the same period last year.

The bank's governor Theodore Karatzas said he expected the Group's net pre-tax profits to total 183 billion drachmas in the period January-June from 149 bln last year, up 22 percent.

National Bank's net interest margin was 2.3 percent in the first six months of the year compared with an average 2.4 percent for the whole of 1999.

The bank's pre-tax return on capital is estimated at 37.2 percent in the first half of the year, from 38.4 pct in 1999, while pre-tax return on assets was 2.1 percent from 1.8 percent respectively.

Karatzas attributed the improved profitability to a restructuring of the Group's assets, as recorded in a 23 percent increase in lending (after provisions) compared with the corresponding period last year.

Financial transactions' revenues totalled 104 billion drachmas, while savings totalled 13.7 trillion drachmas from 12.2 trillion in 1999, up 12.2 percent.

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